South Carolina Senate Bill 13 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 10 2017 - 25% progression, died in committee
Action: 2017-01-10 - Referred to Committee on Banking and Insurance
Pending: Senate Banking and Insurance Committee
Text: Latest bill text (Introduced) [HTML]

Relating To Supervised Loans, By Adding Section 37-3-501(1)(c), To Provide That Short-term Vehicle Secured Loans Are Not Supervised Loans; To Amend Chapter 5, Title 39 Of The 1976 Code, Relating To The South Carolina Unfair Trade Practices Act, To Provide That It Is An Unfair Trade Practice For Supervised Lenders To Provide Short-term Vehicle Secured Loans; To Amend Second 37-3-413, Relating To Short-term Vehicle Loans, By Eliminating The Repayment Term From The Definition, By Capping The Loan Interest Rate For Specific Loan Amounts; To Amend Chapter 3, Title 37 Of The 1976 Code, To Provide For A Database To Prevent A Person From Having A Short-term Vehicle Secured Loan That Exceeds A Certain Limit And To Track Loan Transactions In General, And To Provide That All Short-term Vehicle Secured Loans May Only Be Made By A Licensee.

Banks and Savings and Loan Associations

Sen. Gerald Malloy [D]

Date	Chamber	Action
2017-01-10	Senate	Referred to Committee on Banking and Insurance
2017-01-10	Senate	Introduced and read first time
2016-12-13	Senate	Referred to Committee on Banking and Insurance
2016-12-13	Senate	Prefiled

Chapter	Article	Section	Citation Type	Statute Text
37	3	413	(n/a)	See Bill Text
37	3	501	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=0013&session=122&summary=B
Text	https://www.scstatehouse.gov/sess122_2017-2018/prever/13_20161213.htm